Rupee slips 9.0 paise to 71.57 vs US dollar

MUMBAI, Aug 28 (PTI): The rupee depreciated marginally by 9.0 paise to 71.57 against the US dollar in early trade on Wednesday amid unabated foreign fund outflows and cautious opening in domestic equities.

Forex traders said concerns about US-China trade spat kept market participants edgy. Rupee and most Asian currencies like South Korean won, Thai Baht, Malaysian ringgit, Japanese yen and Indonesian rupiah were trading lower, they added.

At the interbank foreign exchange, the rupee opened weak at 71.50 then fell to 71.57 against the US dollar, showing a decline of 9 paise over its previous closing.

The domestic currency however pared the initial losses and was trading at 71.51 against the American currency at 0943 hours.